https://www.taxtmi.com/caselaws?id=64552 The Tribunal ruled in favor of the assessee, canceling the Commissioner's orders under section 25(2) of the Wealth-tax Act, 1957 for the assessment years 1974-75 to 1976-77. The Tribunal found that the Commissioner's computation of the property's net value using a multiple of 16 times the net annual letting value lacked justification and evidence of revenue prejudice. The decision emphasized the importance of factual basis in jurisdiction assumptions and proper valuation methods under the Act. en-us Thu, 16 Apr 1981 00:00:00 +0530 Tue, 08 Feb 2011 15:21:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64552 The Tribunal ruled in favor of the assessee, canceling the Commissioner's orders under section 25(2) of the Wealth-tax Act, 1957 for the assessment years 1974-75 to 1976-77. The Tribunal found that the Commissioner's computation of the property's net value using a multiple of 16 times the net annual letting value lacked justification and evidence of revenue prejudice. The decision emphasized the importance of factual basis in jurisdiction assumptions and proper valuation methods under the Act. Case-Laws Wealth-tax Thu, 16 Apr 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64552